Why Trust New Promises from Those Who Broke Old Promises???
From The Foundry: Congress wants America to believe its new promises to control spending even as it reneges on its old promises and spends more than ever. The “new” promise within health care reform bills is to reduce Medicare spending by hundreds of billions of dollars. Yet simultaneously, Congress is reversing 1997 legislation that claimed it would reduce Medicare spending. The latest example of hypocrisy | Read More »
, Doc Fix
, Health Care
, Heritage Foundation
Now $100-trillion is not enough
America’s annual deficit just came in at $1.4-trillion and national debt continues to climb. If we continue to spend and ask the Federal Reserve to print more paper money to cover the debt, we could be on the Road to Zimbabwe. Last year, Zimbabwe was printing currency with face value of $100-trillion thanks to government-created inflation. That’s $100,000,000,000,000.00. More details here.
It’s not possible to borrow this much!
The Obama-Pelosi-Reid plan is to borrow $888-billion and spend it, as though that would fix anything. But who would loan us the money? Answer: nobody. As California has learned, there’s a limit to how much a spendthrift government can borrow. We’re already in hock to the Chinese for $681-billion, after our government borrowed an extra $227-billion from them in the last year. The official U.S. Treasury | Read More »